Egypt, Saudi Arabia, Argentina to become permanent members of Brics
Iran, which was favoured by the Russians, is said to have also received the nod from the Brazilians, but various sanctions are likely to be its stumbling block
At least four countries have joined the Brics bloc, with Saudi Arabia and Egypt being endorsed by all five Brics nations.
The Mail & Guardian understands that all Brics (Brazil, Russia, India, China, South Africa) nations have concluded their deliberations on which countries would be joining the bloc in its expansion plan.
President Cyril Ramaphosa is expected to announce the decision on Thursday morning.
At least 20 countries, four of which are from Africa, had formally requested to join Brics.
Ethiopia, Algeria, Nigeria and Egypt are the four countries from Africa which the bloc seriously considered, insiders told the M&G.
South Africa supported Saudi Arabia, the United Arab Emirates, Egypt and Iran to become permanent members, the high level diplomats said.
Three well placed sources in three diplomatic missions from the five nations confirmed to the M&G that all five nations had agreed on Saudi Arabia and Egypt becoming permanent members.
The M&G understands that three other countries namely the United Arab Emirates and Argentina have been included as permanent members.
Indonesia, which had been favoured to join the group by at least four of the current bloc members, is said to have declined joining at the last minute.
Iran, which was favoured by the Russians, is said to have also received the nod from the Brazilians, but various sanctions imposed by the west against the oil rich country are likely to be its stumbling block.
Debate around whether Iran should join the group lasted throughout Tuesday night with the Brics nations ending its retreat without a consensus on whether the Iranians should join, the insiders said.
Saudi Arabia could be Brics’ biggest coup in its attempt to become the most dominant forum in the world.
Saudi’s high ranking politicians, including its monarch, are alleged to have landed in the country on Wednesday morning.
The oil rich country has tentacles in the United States and is expected to hold considerable sway in the west.
The M&G previously reported that South Africa was likely to advocate for Egypt to be included in Brics.
Insiders privy to the discussions say Egypt, in terms of its strategic location, is receiving serious consideration for South Africa’s endorsement to join the group.
Egypt’s GDP, population size and its strategic location on the Mediterranean and the Suez Canal makes it an attractive partner, one insider said.
This is a developing story
(Excluding for the Headline, this article ("story") has not been edited by MiBiz News and is published from a web feed or sourced from the Internet.)
